Manhattan Bridge Capital (NASDAQ:LOAN) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report issued on Monday. The brokerage set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Up 4.1 %

Shares of NASDAQ:LOAN opened at $5.65 on Monday. The company has a market capitalization of $64.63 million, a price-to-earnings ratio of 11.30 and a beta of 0.58. The company has a 50 day moving average of $5.31 and a two-hundred day moving average of $5.22. Manhattan Bridge Capital has a 52-week low of $4.27 and a 52-week high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%. The business had revenue of $2.44 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. increased its holdings in shares of Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after acquiring an additional 6,117 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after acquiring an additional 21,950 shares during the period. Waddell & Associates LLC boosted its stake in Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after acquiring an additional 2,861 shares during the period. Riversedge Advisors LLC bought a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $68,000. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in shares of Manhattan Bridge Capital during the 2nd quarter worth approximately $436,000. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.